Dogecoin Price Outlook: Miners Sell $240M Worth as DOGE Approaches Risk Zone

Dogecoin (DOGE) is facing downward pressure as miners have sold approximately $240 million worth of the cryptocurrency over the past 40 days. This significant offloading has contributed to DOGE’s decline to around $0.089, marking a 17% drop from its monthly peak of $0.11. The increased selling activity by miners has raised concerns about the coin’s short-term stability, with technical indicators suggesting a potential breach below the $0.08 support level. Investors are advised to monitor these developments closely, as sustained selling could lead to further declines in DOGE’s value.